TV3 Auckland’s Supply Shortage – not new news to us!
While the media were focusing on the international economic crises back in 2011, Erskine + Owen were already discussing their prediction of a housing supply shortage. At that stage there was evidence of a growing demand for property, with a declining number of building consents being issued.
In 2013 the economy is in recovery mode, and consumer confidence has seen demand continue to increase and outstrip supply. Auckland needs 400,000 new homes over the next 30 years to meet demand. There is hope that the new Auckland Unitary Plan will help by opening up areas within the city for development, and by releasing some new greenfield space in the outer reaches of greater Auckland. Our prediction – it still won’t be enough.
In 2011 Erskine + Owen Director Lisa Phillips was asked to discuss the property shortage in Auckland with TV3.